Global Markets:
- Asian Stock Markets : Nikkei up 1.06, Shanghai Composite down 0.34%, Hang Seng down 1.03%, ASX down 0.54%
- Commodities : Gold at $1930.45 (-0.35%), Silver at $23.17 (-0.91%), Brent Oil at $91.09 (-0.87%), WTI Oil at $88.89 (-0.85%)
- Rates : US 10-year yield at 4.557, UK 10-year yield at 4.363, Germany 10-year yield at 2.799
News & Data:
- (EUR) Belgian NBB Business Climate -14.4 vs -10.3 expected
Markets Update:
In the Asia-Pacific region, investors displayed a mixed sentiment as they eagerly awaited crucial inflation data from several nations. This week, Singapore and Australia were poised to release their August inflation figures, while Japan was gearing up to unveil Tokyo-specific inflation data, often regarded as a precursor to broader national trends.
Australia’s S&P/ASX 200 index faced a decline of 0.54%, signaling a bit of a struggle and reversing earlier losses. Japan’s Nikkei 225 index experienced a notable surge, climbing by 1.06%, while the Topix index rebounded by 0.39%, recovering from the previous week’s losses and concluding at 32,678.62 and 2,385.5, respectively. On the other hand, South Korea’s Kospi index faced a decline of 0.49%, ending at 2,495.76, while the Kosdaq index experienced a more substantial setback of 2.12%, marking a seven-day losing streak and concluding at 839.17.
Moving westward to Hong Kong, the Hang Seng index slipped by 1.03% in the final trading hour, mirroring a broader trend of negative sentiment. Mainland Chinese markets followed suit, with the Shanghai Composite down by 0.34%. The benchmark CSI 300 index also fell by 0.65%, concluding at 3,714.6.
Across the Pacific in the United States, all three major indexes registered their fourth consecutive day of losses. Investors grappled with signals from the Federal Reserve, indicating a commitment to maintaining higher interest rates for an extended period. This resulted in the Dow Jones Industrial Average declining by 0.31%, the S&P 500 shedding 0.23%, and the Nasdaq Composite slipping 0.09%, marking their most challenging weeks since March.and the Nasdaq Composite slipping 0.09%, marking their most challenging weeks since March.
Upcoming Events:
- 2:00 PM GMT – USD CB Consumer Confidence
- 2:00 PM GMT – USD New Home Sales
- 5:30 PM GMT – USD FOMC Member Bowman Speaks
